OMG please help

[leeroy76]

Hi All,
I have demo played and im ready to rock and roll but i can not decide on where to open a live account. Every time i think i have found a good platform the reviews are terrible. My demo account was with plus500 which i really did like BUT the reviews are really bad. Plus they can't give a time for scalping. I want to be able to trade without the worry that if i do scalp, which is not how I will be trading but i may do it if i see an opportunity, that if i win and try to cash out that they hold my funds because of scalping. IG i don't really like the platform, too much going on plus the reviews aint great. Spreadco.com has bad reviews as well. I am undecided about spread betting or cfd's but it will depend on what ever trusted trader I can find first. I really do like the plus500 platform so if I can find a trusted trader with a platform like that I will be happy. I am always reading bad reviews for every trader i read. I just want to deposit my money now and get on with it but I don't want to deposit it in the wrong place. I want to be sure that if i win i will get my money, true readings, low margins. I just want a trusted trader. PLEASE can someone tell me where to go, i'm tired of searching the web, why is it so hard to find a trusted trader with all the regulations. I don't have much money so I will not be depositing much. Lets say £200 for now to try out the trader. Who is number 1? who can i trust with my money and be confident that I will get my winnings paid to me.
If anyone lives in Milton Keynes and would be kind enough to spend an hour or so with me to teach me some of the technical stuff or just simply help me learn some more that would be absolutely great, please pm me.

 

[timsk]

Hi leeroy76,
Welcome to T2W.

You come across in your debut post as being a tad impatient and frustrated! These do not bode well in trading: no need to be in a rush - the markets aren't going anywhere. So, take your time to demo trade with a number of different brokers until you find one you like with a platform that works for you. There is no 'best' broker or No1 broker as it depends on each trader and the products and services they require. This FAQ will help you find the right one for you:
Can You Recommend a Data Feed, Charting Software & Broker?.
Regarding security of funds, if you follow the steps outlined in this post - you won't go too far wrong.

With regard to learning the 'technical stuff', follow the links in the welcome e-mail you were sent when you registered with T2W. The basics are all in there. Feel free to ask any questions if anything is unclear.
Tim.

 

[forker]

For every broker on the planet there are going to be hundreds of negative reviews alongside hundreds of positive reviews. Most important is to go with one that is regulated and offers you access to a good pool of liquidity providers. If you find one is rubbish just move to another until you find one that works for you.

 

[forker]

Stay away from bucket shops like ig or cmc. They take the other side of your trade and it's in their interest to take as much from you as possible.

 

[tomorton]

Stay away from bucket shops like ig or cmc. They take the other side of your trade and it's in their interest to take as much from you as possible.

Or use their services but don't try and daytrade with them (against them) - they see you coming and they've got really deep pockets.

New trader + daytrading = ex-trader

Trade longer term using the dailies, follow the trends, there's not much they can do if the Dow's going up 1000pts and you're long, they can only beat the small players and even then only over minutes, they can't take on the whole stock market.

 

[tar]

You have to trade against someone , if it is not IG and CMC it will be a designated market maker ...

 

[Pat494]

Make sure the broker is regulated in UK or USA. Not some offshore island.

 

[sminicooper]

Or use their services but don't try and daytrade with them (against them) - they see you coming and they've got really deep pockets.

New trader + daytrading = ex-trader

Trade longer term using the dailies, follow the trends, there's not much they can do if the Dow's going up 1000pts and you're long, they can only beat the small players and even then only over minutes, they can't take on the whole stock market.

I'd agree with that. Never had any problem with IG using as above. Simple and straightforward platform with no tax hassle.

 

[leeroy76]

Thanks very much